Tag: KYC

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue. 

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.

The landscape of Asset Management firms has long been fraught with challenges, particularly in the arena of investor onboarding and lifecycle management. This process,...

Fenergo‘s 2023 KYC Banking Trends Report has unveiled a concerning reality for US investment banks grappling with financial crime mitigation and regulatory compliance, as...

Synechron, Inc., a predominant global digital transformation consulting firm, focuses its expertise on the financial services and big technology sectors.

Know Your Customer, a renowned RegTech provider, has announced a strategic partnership with Joint Electronic Teller Services Limited (JETCO) to offer real-time access to...

Generali Investments Holding, a powerhouse in the world of asset management with over €504bn assets under management (AUM), has chosen to partner with Fenergo, the industry leader in digital solutions for Know Your Customer (KYC), Transaction Monitoring, and Client Lifecycle Management (CLM).

Paytm Payments Bank has been penalised INR 5.4 crore by the RBI owing to its failure to adhere to KYC instructions.

In September 2023, the Financial Conduct Authority (FCA) provided fresh guidance about how to treat Politically Exposed Persons (PEPs). In response to this, businesses under regulation might find it beneficial to revisit their existing PEPs screening systems. This not only ensures alignment with the new directive but also makes certain that the screening process remains both effective and efficient.

The UK Government is diving headfirst into a comprehensive review of all regulators within its jurisdiction. Their goal? To eliminate unnecessary bureaucratic obstacles, making the most of the liberties afforded post-Brexit.